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(Bloomberg) -- Amazon.com Inc. scaled back deliveries and adjusted routes in cities including Chicago and Los Angeles, Apple kept some outlets shut, while Target Corp. extended store closures nationwide after the death of George Floyd sparked demonstrations across the country.“We are monitoring the situation closely and in a handful of cities we adjusted routes or scaled back typical operations to ensure the safety of our teams,” an Amazon spokeswoman told Bloomberg News.Apple had reopened about 130 of its about 270 stores following the coronavirus pandemic, and most of them were closed on Sunday, the company said in a statement.Protests around the country are complicating operations for companies from Amazon, which has been one of the few consumer-facing companies to generate new business during the pandemic, to Target, which still retains a heavy bricks-and-mortar presence.Based in Minneapolis where Floyd died in police custody, Target had already closed 32 stores in the area. On Sunday, it said it was closing dozens more around the nation, at least temporarily.“We are a community in pain,” Chief Executive Officer Brian Cornell said in a statement shortly after Floyd’s death. “That pain is not unique to the Twin Cities -- it extends across America.”In Chicago and Los Angeles, Amazon delivery drivers received messages Saturday night that said: “If you are currently out delivering packages, stop immediately and return home. If you have not completed your route, please return undelivered packages to the pick-up location whenever you’re able to do so.”Amazon was “in close contact with local officials and will continue to monitor the protests,” and would only re-open delivery stations when it’s safe and will plan delivery routes by monitoring demonstrations in every zip code, according to messages reviewed by Bloomberg.(Adds Apple from first paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
This is forcing data center operators to upgrade their capacities and capabilities to handle the increased load. Chinese giant Alibaba recently announced that it will spend $28 billion to bolster its data center infrastructure over the next three years in preparation for a post-COVID-19 world. Market research firm TechNavio estimates that spending on data center construction could increase at an annual rate of 10% through 2024.
It goes without saying that two of the very best companies in the world are Amazon.com (NASDAQ: AMZN) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), the parent company of Google. In fact, Google and Amazon ranked Nos. Amazon and Alphabet tend to compete more and more with each other as time marches on, but each company still has a dominant market share of their respective core businesses: e-commerce for Amazon; digital advertising for Google.
President Donald Trump’s increasingly heated feud with Twitter may be good for social media impressions, but may not be legally enforceable, according to experts.
Wouldn't it have been great to get in on the ground floor of Johnson & Johnson? How much money would you have now if you had been in that group and invested $10,000 in J&J? Twenty years before Mick Jagger, Keith Richards, and the rest of the band released that song, Johnson & Johnson listed its shares on the New York Stock Exchange.
Online sales have exploded during the coronavirus pandemic, as consumers try to stay home more. Online sales at Walmart, Target, and Best Buy in the first quarter increased by 74%, 141%, and 155%, respectively. Meanwhile, the 800-pound gorilla that is Amazon (NASDAQ: AMZN) continued its steady march, growing global online sales by 24% (Amazon's fiscal quarter ends a month before the other retailers mentioned).
HBO Max made its official entrance into the streaming wars on Wednesday — and its day-one performance highlights how consumers are embracing the new platform.
Apple (AAPL) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
For retirees or those planning their retirement, stocks that pay their dividends monthly are particularly attractive investments. With its stock 66% below the 52-week high of almost $8.50 per share hit last September -- or even the $7 level it was trading at just before the COVID-19 outbreak struck -- investors have an opportunity to realize significant capital appreciation with Enerplus while continuing to receive their monthly dividend check.
Instagram is going to share some revenue with users. The move could generate billions in revenue for the Facebook (NASDAQ: FB) subsidiary and put it in greater competition with Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) YouTube for both talent and ad sales. For reference, YouTube generated $15 billion in gross revenue last year.
All this news is really one story. It’s about how we’re being distracted from facts and real underlying issues.
Disney is relying on a vaccine for the coronavirus to get back to full-fledged operations because so many of its businesses rely on large crowds. Alphabet will benefit when advertisers hurt by the outbreak ramp up spending again. The coronavirus outbreak is causing disruptions in some of Disney's most lucrative operations.
"We are excited to tell you more about Android 11, but now is not the time to celebrate," Google said in a message posted on its Android developers website. In a tweet, it said that it will announce more details on the new version of Android "soon," without specifying any dates. Protests have spread across the United States over the killing of George Floyd, a Minneapolis black man who died after being pinned by the neck under a white police officer's knee.
In an email to Nike (NKE) staff obtained by Yahoo Finance, Nike CEO John Donahoe explained why the company decided to respond via Instagram (FB) to the racially motivated attacks on George Floyd, Ahmaud Arbery, Christian Cooper, and Breonna Taylor.
Futures fell amid widespread unrest and protests in U.S. cities. Tesla and Apple look to break out decisively in the coronavirus stock market rally.
U.S. stock-index futures headed south in thin trading Sunday evening following a weekend of violent protests over the death of a black man, George Floyd, early last week in Minneapolis while in policy custody. The protests, spanning from Los Angeles to New York, resulted in violent clashes between civilians and law enforcement, and led some to speculate that it could complicate efforts by cities and states to recover from one of the worst public health disasters in more than century. "The indirect impact on the fragile collective psyche of businesses and consumers could be more serious," Mark Zandi, chief economist of Moody's Analytics, told MarketWatch. "Just when people were starting to come out of the proverbial bunkers, the protests may be too much for them, and they will go back in," he speculated, referencing consumers reluctance to go out shopping in the wake of the viral outbreak. "The protests are also symptomatic of just how deep the economic problems and racial tensions go in our country," the economist said. Although the riots, fueled by deep-seeded concerns about racial injustice in America, aren't expected to have long-term economic implications, protests did slam the stores of major retailers owned by Target Corp. , Walmart Inc. and Nike Inc. , which are still swooning from the pandemic and were caught up in looting and vandalism that ensued during the weekend protests. Apple Inc. also said it would close some of its stores due to looting fears. Futures for the Dow Jones Industrial Average were off 160 points, or 0.6%, at 25,217, those for the S&P 500 index were 0.6% lower at 3,023.75, while Nasdaq-100 futures were 0.6% lower at 9,507.75. The protests across many major cities in the U.S. center on the death of Floyd, who is black, and perished on Monday following a confrontation with police in Minneapolis in which one officer, Derek Chauvin, was captured on videos driving his knee on Floyd's neck until the handcuffed man lost consciousness and later died. To be sure, investors will be focused on the continued reopening of states and local businesses following lockdowns intended to halt the spread of the deadly illness derived from the novel strain of coronavirus. Intensifying conflicts Sino-American friction may also influence trading. On Friday, the Dow booked a weekly gain of 3.8%, while the S&P 500 finished 3% higher and the Nasdaq Composite Index ended the period 1.8% higher. For May, the Dow logged a 4.3% gain, the S&P 500 climbed 4.5%, while the Nasdaq marked a 6.8% return in May.
Target and CVS said Sunday that they are temporarily closing certain locations, including some that were damaged during protests over the death of George Floyd in Minneapolis last week.
Apple Inc. has temporarily closed most of its U.S. retail stores, 9to5 Mac reported Sunday, after a number of stores became targets of looters during weekend protests. "With the health and safety of our teams in mind, we've made the decision to keep a number of our stores in the U.S. closed on Sunday," Apple reportedly told 9to5 Mac. Apple Stores in Minneapolis, San Francisco, Portland, Ore., and Scottsdale, Ariz., were among those vandalized or looted over the weekend. Apple did not immediately respond for comment, but a number of Apple Store locations say "temporarily closed" on their web sites, while one in San Francisco's Union Square, which was damaged Saturday night, said it would reopen Tuesday. Apple started reopening its U.S. retail stores, which had been closed due to the coronavirus pandemic, in late May. 9to5 Mac said about 140 of its 271 U.S. locations had already been reopened.
As protests stemming from the death of George Floyd wrack the nation, a number of leading tech companies have offered their support for demonstrators and funding for social-justice organizations.
Stocks jumped last week, as investors celebrated the resumption of more normal activity across big parts of the economy. Both the Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) gained over 3%, which put the S&P at just a 6% decline so far in 2020, while the Dow is lower by 11%. A few big-name stocks will announce earnings results over the next few trading days, including Ambarella (NASDAQ: AMBA), Slack Technologies (NYSE: WORK), and Zoom Video Communications (NASDAQ: ZM).
Check out our weekly earnings calendar and read the latest quarterly earnings previews.
As companies, Nike (NYSE: NKE) and Starbucks (NASDAQ: SBUX) don't compete with each other, but they share some similarities as stock investments. For Starbucks, that niche covers premium on-the-go caffeinated beverages. Nike serves athletes and anyone else interested in high-performance fashion.